Tag #Moët Hennessy

What are the immediate consequences of Moët Hennessy's decision to reduce its workforce by 10%, and how will this impact the company's operations?

Moët Hennessy, a LVMH subsidiary, plans to cut 10% of its workforce (1000-1200 jobs) due to a decline in sales in 2024 and slowing global demand. The company will achieve this through attrition and not filling vacant positions, avoiding layoffs. This follows an 11% drop in revenue to €5.9 billion in 2024 and an 8% drop in Q1 2025.